Popular (BPOP) Reports Q3 2026 Net Income of $266 Million Amid Shifting Loan Growth Strategy
Popular (BPOP) reported a net income of $266 million during its third-quarter 2026 earnings call. To combat slower loan expansion, the bank is focusing on disciplined capital repurchases and reinvesting maturing lower-yielding securities into higher-yielding assets, which provided a 206 basis point pickup this quarter. The company has also pivoted its retail strategy by reclassifying over one million accounts to eliminate fees for active customers, prioritizing long-term deposit stickiness over immediate fee income. While the bank lowered its full-year loan growth guidance to approximately 2% due to cooling auto financing and commercial lending demand, management remains focused on building comprehensive customer relationships. Looking forward, Popular aims for an annual return on average tangible common equity of 14% to 17%. The bank's performance remains closely tied to the stable economic environment in Puerto Rico, supported by steady employment and tourism.
Tickers: $BPOP
Topics: Account Fee Restructuring Interest Rate Environment Loan Growth Guidance Net Income